Bank of America Consumer Loan Complaint

Vehicle loan Shopping for a loan or lease

Bank of America Consumer Loan department,

Vehicle loan Shopping for a loan or lease Pennsylvania

I bought a new Toyota Tacoma from - - in -. My bank approved me for a loan for 2.49 %. I went to the dealer to close the deal I was with the finance person. They said Bank of America matched the loan amount of 2.49 % and that I was already approved and could get my vehicle now instead of waiting for 2-3 for the bank loan to clear. Then I was hit with high pressure misleading warranties to add on. I said I was not interested the pressure and the assurance that total vehicle protection was offered and that it only raised my payment slightly, but I had to make a decision right then and there to take the warranties to add them to the financing, I was hesitant as the the pressure tactics were fast aggressive, and very vague. I was told if I did not take the warranties now I would have to pay higher cost later and would not be able to finance them. They finance agant at - said that the BoA agent she was online with dropped my financing to 1.79 %, so I took the warrranties. A few weeks later, I took the vehicle in for service and was told the items I was claiming under the protection package was not covered after I was told it was before I accepted them. To make a long story short, they refunded my money but refuse to talk with me or address my items that they said they would not cover.

Bank of America customer in Pennsylvania
Aug 03, 2016

* Source: CFPB Complaint Database

Bank of America response to complaint:
Closed with explanation

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Contact Bank of America

https://www.bankofamerica.com/
(704) 386-5681
100 N Tryon St Ste 220
Charlotte NC 28202
Bank of America
Bank of America

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